Fubon Financial Holding Co (
In a statement filed to the Taiwan Stock Exchange, the company said that Tsai will remain as the firm's vice chairman and chief executive officer. The appointment will take effect after approval from financial regulators, the statement said.
Fubon Financial's board made the decision yesterday to comply with a new measure set by the Financial Supervisory Commission. The new measure, which the commission passed in February this year, stipulates that starting tomorrow, chairpersons and presidents of the nation's financial holding firms can only serve concurrently in a maximum of one other chairmanship at subsidiaries.
Under the new requirement, Shinkong Financial Holding Co (
Currently, Wu also heads Shinkong Life Insurance Co (